According to NAR (The National Association of Realtors), existing home sales in October 2009 were up 23.5% from October 2008. The pending home sales percentage was even higher at 31.8%.
This is great evidence that the Home Buyer Tax Credit has been working to stimulate the housing market. Now that the Credit has been extended over to repeat buyers, we fully expect to see another surge in the housing market over the coming months.
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